Recapping the week in Gold, USD, and US Markets
Doc is with me to recap the moves we saw this week. After a political bump for gold and drop for the US markets that only lasted one day will it have an impact on next week? Also looking at the continued fall in the USD. While the dollar remains in the middle of a longer term trading range there is not doubt that all of 2017 has been rough for the USD.
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Another rate hike is likely weaken the dollar. Remember that interest rates were going up in the 1970 while the dollar continued to buy less and less. Much more recently, the USDX fell about 25% after Janet Yellin raised rates for the first time in ten years.
Rate hikes while the economy is struggling and bonds are bubbly sends smart investors away from the currency since they know that such a situation will necessitate negative real rates — at least in the Fed’s eyes.
Correction: The USDX fell 25% versus gold after Yellin’s first hike.
Correction 2: Should be “the 1970s…”
Another example: Between June, 2003 and June, 2006, Alan Greenspan hiked rates 17 times from 1% to 5.25% and the dollar index lost 50% versus gold.
Gold, June ’03 to June ’06:
http://stockcharts.com/h-sc/ui?s=%24GOLD&p=W&st=2003-05-13&en=2006-06-27&id=p76423226617
I see!
Ditto confused!!
dollar takedown:
Interesting: 60million oz. silver covered this week.
This makes over 300 million oz. silver covered in the last 4 weeks.
$9B in gold shorts covered in same time period. I wouldn’t be in a hurry to sell.
Osisko Mining drills 9.4 m of 9.01 g/t Au at Windfall
2017-05-19 08:08 ET – News Release
Osisko Mining Inc. has released new results from the continuing drill program at its 100-per-cent-owned Windfall Lake gold project located in Urban township, Quebec. The current 400,000-metre drill program combines definition drilling above the Red Dog intrusion, expansion drilling above and below Red Dog, expansion drilling to the northeast of the main deposit, and exploration drilling on the greater deposit and Urban-Barry project area. Significant new analytical results from four wedge drill holes focused on infill and expansion drilling in the main Windfall deposit are reported in the associated table.
Osisko has consistently had great drilling all year long at Windfall. Very nice.
I’ve been stocking up on Metanor resources lately (small producer whose Barry deposit on the same trend with the Osisko Windfall deposit).
Check out this MAP for a lay of the land…..
Beaufield Resources is definitely right there in the thick of it as well.
I just like Metanor a current prices, because they had the snot kicked out of them, nose-dived, restructured their balance sheet, got a capital raise underway, and now they are in a much different setup as a small producer with “Takeover” written all of them.
Barkerville drills 8.25 m of 39.05 g/t Au at Cariboo
2017-05-18 08:14 ET – News Release
BGM INTERSECTS 39.05 G/T AU OVER 8.25 METRES AT SHAFT ZONE
Barkerville Gold Mines Ltd. has released additional drilling results from the continuing 130,000-metre phase 2 Island Mountain exploration drilling program at the company’s flagship Cariboo gold project. The company is currently exploring and delineating the Valley zone with four drill rigs. Detailed drilling results, a drill hole location plan map, level plan and longitudinal section are presented on the company’s website.
Osisko Gold now holds 33.4% of Barkerville shares
Shanghai silver closed over $18.
These 4 charts will turn you into a (raging) zinc price bull
Frik Els | about 6 hours ago
http://www.mining.com/4-charts-will-turn-raging-zinc-price-bull/
My Zinc stocks have sure outperformed many of the Precious Metals stocks over the last few months. Diversification in the game of mining wack-a-mole stocks.
(VTT) (VDTAF) Vendetta Mining Corp. (Michael Williams)
Metals Investor Forum May 2017 – Corporate Presentation VIDEO
https://www.youtube.com/watch?v=wIj3c_VVSNw&feature=youtu.be&list=PL7A77857F371F9F47
(TK) (TKRFF) Tinka Resources Ltd. (Graham Carman)
Metals Investor Forum May 2017 – Corporate Presentation VIDEO
(FWZ) Fireweed Zinc Ltd. (Brandon Macdonald)
Metals Investor Forum May 2017 – Corporate Presentation VIDEO
(CNX) (CLLXF) Callinex Mines Inc. (Max Porterfield)
Metals Investor Forum May 2017 – Corporate Presentation VIDEO
“Plenty of Catalysts” – Joe Mazumdar with Callinex CEO Max Porterfield
May 18, 2017
Joe Mazumdar, Co-Editor of Exploration Insights, interviews Max Porterfield, CEO of his new pick Callinex Mines Inc.
Gwen Preston – “I’m Pretty Excited About It” – With Darnley Bay Chairman Kerry Knoll
May 19, 2017
Gwen Preston, editor of Resource Maven, interviews Kerry Knoll of Darnley Bay at the May 2017 Metals Investor Forum.
(CEM) (CNSNF) Constantine Metal Resources Ltd. (Darwin Green)
Metals Investor Forum May 2017 – Corporate Presentation VIDEO
#Lithium Boom II And #Cobalt Boom II Are Coming Soon
May 15, 2017 – Matt Bohlsen
https://seekingalpha.com/article/4073242-lithium-boom-ii-cobalt-boom-ii-coming-soon
Top 5 #Lithium Miners To Buy
May 16, 2017 – Matt Bohlsen
$ALB $AJM.AX $ALTAF $CRE $CRECF $GXY.AX $GALXF $LAC $LACDF $ORL $OROCF $LIX $LIXXF $SQM $NMX $NMKEF $PLS.AX $PILBF $NLC $ILC
https://seekingalpha.com/article/4073613-top-5-lithium-miners-buy
Top 3 #Cobalt Miners To Accumulate
May 16, 2017 – Matt Bohlsen
$GLEN.L $GLCNF $CMCLF $KAT $KATFF
https://seekingalpha.com/article/4073615-top-3-cobalt-miners-accumulate
John Kaiser and Gwen Preston: Strategies for Finding Ten-Baggers:
May 18, 2017
John Kaiser, editor of Kaiser Research Online and Gwen Preston, Editor of Resource Maven, discuss Camino’s recent discovery. and provide advice on finding similar stories.
Gwen Preston and Jordan Roy-Byrne on Summer Investment Strategies
May 18, 2017
“The Sector’s Alive!” Brien Lundin and Gwen Preston
May 2017 – Metals Investor Forum
“Bullish on Energy Metals” Sean Brodrick and Gwen Preston
May 2017 – Metals Investor Forum
Jay Taylor and Gwen Preston: “Long on Gold”
May 2017 – Metals Investor Forum
If a lower dollar is the goal Janet will NOT raise rates in June.